You may think that after bankruptcy you’ll never be able to buy a house or a new car. That simply is not true. Bankruptcy works to get rid of your debts, which improves your debt-to-income ratio, which is one major component lenders evaluate when deciding what interest rate to offer. There are many mortgage programs available to consumers after bankruptcy, in fact, there are programs with no “seasoning” required whatsoever. This means the possibility of qualifying for a mortgage immediately following the discharge of your case. Post-bankruptcy lending is a fairly specialized area, but McFarlin & Geurts, LLP has excellent contacts in the industry and can put you in contact with reputable professionals to take care of your post-bankruptcy financing needs.

If you need advice on how to get a loan after bankruptcy, Contact a Lawyer who can help with how to get a loan after bankruptcy and start to rebuild your credit today.

UNLAWFUL REPORTING OF BALANCE DUE AFTER BANKRUPTCY:

Unfortunately, some creditors occasionally continue to report an outstanding balance on credit reports after bankruptcy. This practice is unlawful and is a violation of the bankruptcy discharge injunction. It is best to send creditors a certified letter notifying them (as well as all three credit bureaus) of the bankruptcy formally with a copy of the discharge and nicely ask them to change the item to a zero balance.

If they choose to ignore the letters, and continue to report an outstanding balance, they have violated federal law and McFarlin & Geurts, LLP will sue creditors to enforce the Bankruptcy Discharge Injunction and the Fair Credit Reporting Act (if applicable). We provide sample letters for clients to send to creditors after bankruptcy.

If you need advice on how to get a loan after bankruptcy, Contact a Lawyer who can help with how to get a loan after bankruptcy and start to rebuild your credit today.